HOUSTON--(BUSINESS WIRE)--For 25 years, the Credit Coalition has championed free financial and
homebuyer education for Houstonians and residents of the Beaumont/Port
Arthur area. Today, the nonprofit was awarded $22,000 in Partnership
Grant Program (PGP) funding from the Federal Home Loan Bank of Dallas
(FHLB Dallas) and CommunityBank of Texas (CBOT), an FHLB Dallas member
institution. The grant will allow the Credit Coalition, a HUD Approved
Housing Counseling Agency, to cover administrative and operational
expenses and continue serving its clients free of charge.

“We are different in Houston because we don’t charge for our services,”
said Sherrie Young, executive director of the Credit Coalition. “We help
empower people with information from volunteers in the fields of
finance, credit, consumer rights and homebuyer education. Our clients
then take that information and apply it to their lives. They receive the
tools to make more informed financial decisions.”

Ms. Young explained what differentiates the Credit Coalition’s free
“Fundamental of Good Credit” course.

“Others are a one-day class. Ours is 15 hours over six weeks,” she said.
“Our clients order and review their credit reports, track their spending
for a month and gain a better understanding of the credit process. They
interview bankers, calculate their own debt ratios and 'pre-qualify
themselves' for the various loans.”

CBOT Executive Vice President and Chief Compliance Officer Brandi Gregg
said the work of the Credit Coalition has made a real difference in
Southeast Texas.

“This organization, more than any other, establishes a financial
knowledge base among its clients that can improve whole neighborhoods
and communities,” she said. “What a tremendous impact there has been
over the years with more than 12,000 people receiving free financial and
homebuyer education. CBOT is proud to support the Credit Coalition’s
work in Houston and Beaumont/Port Arthur.”

PGP awards provide grants to community-based organizations (CBOs) of up
to $12,000. The funds may be used for research, organizational
capacity-building, grant- and funding-application assistance, or
contractual services. Through the PGP, FHLB Dallas matches a member’s
contribution to a CBO of $500 up to $4,000 at a 3:1 ratio for a maximum
$12,000 contribution from FHLB Dallas. Members may contribute more than
the $4,000 amount required to maximize the FHLB Dallas contribution,
increasing the total amount to the organization.

The Credit Coalition’s membership includes financial institutions,
community organizations and other qualified businesses. The 501(c)(3)
nonprofit was established in 1992 by financial institutions that wanted
to help consumers following an economic downturn.

“CommunityBank of Texas is a committed partner with FHLB Dallas and the
Credit Coalition,” said Greg Hettrick, first vice president and director
of Community Investment at FHLB Dallas. “By giving of their time, talent
and resources, CBOT’s staff demonstrates what it means to truly invest
in the local community.”

PGP grants are offered via a lottery system once a year through FHLB
Dallas members. In 2017, FHLB Dallas awarded $300,000 in PGP funds
through 31 member institutions to assist 30 CBOs. Combined with the
$104,550 contributed by FHLB Dallas members, a total of $404,550 was
awarded to the organizations.

To learn more about the PGP or other Community Investment programs from
FHLB Dallas, visit fhlb.com/community.

About CommunityBank of Texas

CommunityBank of Texas, N.A. is an independent, Texas-owned bank with
assets in excess of $2.9 billion. Established in 2007, the bank has 35
branches and is the largest independent community bank headquartered in
and focused on the financial needs of Houston and Southeast Texas. For
information about CommunityBank of Texas, N.A., visit
communitybankoftx.com.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the
FHLBank System created by Congress in 1932. FHLB Dallas, with total
assets of $62.9 billion as of June 30, 2017, is a member-owned
cooperative that supports housing and community investment by providing
competitively priced loans and other credit products to approximately
850 members and associated institutions in Arkansas, Louisiana,
Mississippi, New Mexico and Texas. For more information, visit fhlb.com.